Record Bank Complaints
Published / Last Updated on 19/05/2011
Record Bank Complaints.
In the annual review of personal finance disputes published today by the Financial Ombudsman Service (FOS), it shows that the FOS dealt with over a million enquiries and complaints from consumers, with 1 in 5 with of the initial enquiries resulting in formal disputes. Of the new cases, 51% related to the sale of payment protection insurance (PPI)
The review also showed that half of the total number of disputes referred to the ombudsman involved four of the UK's largest financial services groups
Following the results of the review, Sarah Brooks, Head of Financial Services at Consumer Focus, is urging the banks to deal promptly with PPI complaints and to improve their service so that consumers are not forced to complain to the FOS